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http://hdl.handle.net/10419/37376
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| Title: | | International Equity Flows and Speculative Bubbles: Some Empirical Evidence for South-East Asia  |
| Authors: | | Pierdzioch, Christian Kizys, Renatas |
| Issue Date: | | 2010 |
| Series/Report no.: | | Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Financial Integration and Investment Decisions D9-V2 |
| Abstract: | | We analyzed the links between international equity flows and speculative bubbles in the equity markets of six South-East Asian countries over the period 19912006. Based on a cointegration analysis, we found signi?cant equilibrium cointegration links between international equity flows and speculative bubbles. Before the Asian economic and financial crisis, an increase in speculative bubbles was accompanied by a decrease in net capital outflows. Our results are consistent with theories that predict that speculative bubbles absorb domestic savings in financially underdeveloped countries. |
| Subjects: | | Speculative bubbles International equity flows South-East Asia Cointegration analysis |
| JEL: | | G15 F37 |
| Document Type: | | Conference Paper |
| Appears in Collections: | | Jahrestagung des Vereins für Socialpolitik 2010 (Kiel): Ökonomie der Familie
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